Drill Results from the Homase/Akrokerri Project

RNS Number : 2812T

Goldstone Resources Ltd

05 December 2011

 



Goldstone Resources Ltd

("GoldStone" or the "Company")

DRILL RESULTS FROM THE HOMASE/AKROKERRI PROJECT, ASHANTI GOLD BELT, GHANA

GoldStone Resources Ltd ("GoldStone" or the "Company"), the West and Central Africa focused gold exploration company, is pleased to announce results for four new drill holes at the Homase/Akrokerri project in Ghana. 

Highlights:

·     Drill results extend the known part of the high-grade shoot under the northern part of the Homase pit from 140 metres to 215 metres below the base of the pit

·     Gold intersections include 10.4 metres at 4.4 g/t and 4.3 metres at 4.9 g/t

·     Mineralisation remains open at depth

Hendrik Schloemann, GoldStone's Exploration Director, commented: "We continue to be pleased with the progress of our drilling programme.  As a consequence of these promising results, we intend to add at least one additional drill rig to the project from early next year."

Drilling Results

Drill hole 11HMRD015 (4.3 metres at 4.9 g/t) intersected the high-grade gold shoot under the northern part of the Homase pit, 175 metres below the base of the pit, while drill hole 11HMRD016 (10.4 metres at 4.4 g/t) intersected the same shoot 215 metres below the base of the pit.  Mineralisation was also intersected at 190m below the base of the central part of the pit in drill holes 11HMRD012 and 11HMRD013, results of which are reported in the table below.  All four boreholes intersected the mineralisation down-dip of GoldStone's 405,600 ounce JORC compliant gold resource at Homase/Akrokerri and underline the encouraging potential for an upgrade of this resource in the future.  The mineralisation at Homase/Akrokerri remains open at depth and along strike.

A summary of all drilling results obtained since the start of the drill programme in June 2011 is provided below:

Drill Hole	From (m)	To (m)	Apparent Width	True Width	Au Grade
11HMRD001	159.0	172.6	13.6	11.2	5.9
Including			8.3	6.8	7.2
11HMRD002	158.0	171.0	13.0	10.1	6.4
Including			10.0	8.2	8.2
11HMRD003	181.0	189.5	8.5	5.8	9.5
11HMRD004	142.0	150.0	8.0	6.3	4.9
Including			6.0	4.7	6.5
11HMRD005	177.0	190.0	13.0	9.2	4.7
Including			6.5	4.6	8.9
11HMRD006	201.0	204.0	3.0	1.7	0.8
11HMRD007	226.0	231.5	5.5	3.6	4.6
11HMRD008	232.0	234.0	2.0	1.4	1.6
11HMRD009	190.0	198.0	8.0	5.5	3.4
11HMRD010	173.4	175.0	1.6	0.8	1.4
11HMRD011	157.0	225.4	68.4	28.9	1.5
Including			22.4	9.2	3.0
11HMRD012	212.0	219.8	7.8	5.6	0.9
11HMRD013	218.0	227.0	9.0	5.9	1.7
11HMRD015	252.0	258.0	6.0	4.3	4.9
Including			3.2	2.3	8.4
11HMRD016	295.0	308.6	13.6	10.4	4.4
Including			5.4	4.1	7.9

The Company has committed to 9,000 metres of drilling at Homase/Akrokerri.  To date, 19 drill holes for a total of 4,750 metres of drilling have been completed.  As a consequence of the promising drill results the Directors intend to add at least one additional drill rig to the Homase/Akrokerri project from early next year.

APPROVAL

Dr. Hendrik Schloemann, who holds a PhD in geology, has reviewed and approved the geological content of this announcement.

Enquiries

GoldStone Resources Limited	[phone]
Jurie Wessels / Hendrik Schloemann
Westhouse Securities Limited	[phone]
Tim Feather / Matthew Johnson
Optiva Securities Limited
Jason Robertson	[phone]
Jeremy King	[phone]
Walbrook PR	[phone]
Louise Mason Bob Huxford

 

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